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On Compliance of Para 2.11. of the Regulation of 20 December 2018 of the Financial and Capital Market Commission No. 198 “Regulation on Determining the Amount of Payments by the Financial and Capital Market Participants for Financing the Financial and Capital Market Commission in 2019 and for Submitting Reports” with the First Sentence of Article 91 of the Satversme of the Republic of Latvia
Case short name: Funding of the activities of the Financial and capital market commissionThe Constitutional Court held:
to recognise Para 2.11. of the Regulation of 20 December 2018 of the Financial and Capital Market Commission No. 198 “Regulation on Determining the Amount of Payments by the Financial and Capital Market Participants for Financing the Financial and Capital Market Commission in 2019 and for Submitting Reports” as being compatible with the first sentence of Article 91 of the Satversme of the Republic of Latvia.
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Reviewing the norm issued by the Financial and Capital Market Commission, the Constitutional Court finds deficiencies in the democratic legitimisation of the Commission’s Council
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A case initiated with respect to a norm that establishes the amount of payment by a credit institution for financing the operations of the Financial and Capital Market Commission